Description

BSE circular containing clarifications from Hindustan Petroleum Corporation Limited and Larsen & Toubro Limited on recent news articles about Venezuelan crude procurement and US nuclear market respectively.

Summary

BSE issued a circular containing clarifications from two listed companies regarding news articles. Hindustan Petroleum Corporation Limited (HPCL) denied reports about negotiations for Venezuelan crude oil procurement, stating the news is incorrect and out of context. Larsen & Toubro Limited (L&T) confirmed that information about MoUs with Holtec and Clean Core Thorium Energy was already publicly disclosed through previous announcements.

Key Points

  • HPCL (Scrip Code: 500104) clarified that no negotiations or events have taken place involving procurement of Venezuelan crude oil
  • HPCL stated the news article titled “HPCL seeks Venezuelan crude to boost heavy oil runs” is incorrect and out of context
  • HPCL confirmed there are no regulatory/legal proceedings and no material impact from the article
  • L&T (Stock Code: LT/500510) verified that information about US nuclear market MoUs was discussed in quarterly earnings call on January 28, 2026
  • L&T’s MoU with Clean Core Thorium Energy was signed on October 18, 2024 and hosted on company website
  • L&T’s MoU with Holtec for design and build solutions was signed on November 3, 2025 and disseminated via media release
  • L&T announced financial results for quarter and nine-month period ended December 31, 2025 on January 28, 2026

Regulatory Changes

No regulatory changes announced. This is a routine disclosure circular requiring companies to clarify/confirm news items appearing in media publications.

Compliance Requirements

  • Companies must respond to stock exchange queries seeking clarification on news articles
  • Companies must confirm whether any non-disclosed information exists that could explain scrip movement
  • Companies must disclose any regulatory/legal proceedings or material impact related to news articles
  • Companies must provide accurate information to prevent market speculation

Important Dates

  • January 28, 2026: BSE sought clarification from HPCL on Venezuelan crude article
  • January 28, 2026: L&T held quarterly earnings call discussing nuclear market MoUs
  • January 28, 2026: L&T submitted financial results for Q3 and nine-month period ended December 31, 2025
  • January 29, 2026: Both companies submitted clarification responses to exchanges
  • November 3, 2025: L&T’s MoU with Holtec was disseminated via media release
  • October 18, 2024: L&T’s MoU with Clean Core Thorium Energy was hosted on company website

Impact Assessment

Market Impact: Medium - Both clarifications address potential market speculation based on media reports. HPCL’s denial of Venezuelan crude negotiations prevents false information from driving trading activity. L&T’s confirmation that information was already public domain maintains transparency.

Operational Impact: Low - No operational changes for either company. HPCL continues normal crude procurement operations without Venezuelan crude. L&T continues existing MoU partnerships as previously announced.

Investor Impact: Medium - Clarifications provide investors with accurate information to make informed decisions. HPCL investors can discount the Venezuelan crude speculation. L&T investors have confirmation that nuclear market initiatives are proceeding as disclosed.

Compliance Impact: Low - Routine compliance with stock exchange disclosure requirements. Both companies fulfilled their obligation to clarify news reports promptly.

Impact Justification

Routine clarifications on media reports by two major companies to prevent misinformation and price speculation. HPCL denies Venezuelan crude negotiations while L&T confirms information already in public domain.